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SteynTrade
Dec 29, 2018 9:25 AM

Gold Being Accumulated? Long

GoldOANDA

Description

Gold has been forming a base since 2013 that may be resolving itself. Looking at the wcykoff phases we have potentially seen a Last Point of Support ( LPS ) and am currently seeing the markup in phase D. There is diminishing spread and volume on backups and Signs of Strength (SOS) on rallies. On the volume RSI we see negative divergence sowing supply being absorbed at lower prices below the midpoint of the range (Preliminary Support - PS). Gold Stocks could be the ones to watch going into 2019.
Comments
UnknownUnicorn942585
Nice chart brother silver is doing something similiar
SteynTrade
@RAKIM, Thanks. Nice chart. Yes, all the commodities seem to be behaving strongly. Also look at Platinum and Palladium.
UnknownUnicorn942585
@SteynTrade, If we break above the resistance in gold & silver there will be fireworks i have no clue whats going to trigger this.
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